Markets Tumble Over Negative Cues
Suparna / 06 Aug 2013
The Indian markets have tanked this morning after the INR made a low of Rs 61.80. The global markets are also weaker. Currently, the Nifty is 66 points down at 5618 and Sensex has dropped 190 points to trade at 18,992.
The Indian markets have tanked this morning after the INR made a low of Rs 61.80. The global markets are also weaker. Currently, the Nifty is 66 points down at 5618 and Sensex has dropped 190 points to trade at 18,992. Both indices opened lower in the range of 0.99%-1.70%.
The advance-decline ratio is on the negative side in the morning session. On the NSE, 1225 shares are trading in gains and 2057 shares are down.
Top 5 Nifty Gainers: Ambuja Cements is the top gainer for today’s morning session, up by 1.4%. Hero MotoCorp, HCL Tech, Power Grid and TCS are among the others trading higher.
Top 5 Nifty Losers: JP Associates is the strongest loser, down by 5.5%, followed by DLF, Asian Paints, Sesa Goa and IndusInd Bank.
12 out of the 13 sectors are trading in the red zone as of now. Bankex was the highest loser, down by 276 points. Metals dipped by 152 points and the Consumer Durables index was 149 points lower. Capital Goods and Healthcare were also down by 140 points and 102 points respectively. Mid-Caps have lost 85 points Small-Caps are trading 45 points lower.
Among the Asian shares, the Nikkei market is the top gainer, up by 42 points. Taiwan Weighted and Shanghai Composite are also in positives. The Hang Seng, on the other hand, is trading down by 342 points.
Buzzer: HDIL has crashed by 10% after the company’s promoters defaulted on interest payment on a loan of Rs 46 crore. The stock made a new 52-week low at Rs 26.10. If it breaks, it may move lower to Rs 21.
The Nifty has broken a major support at the 5655 level. If it continues to sustain below this level, the index may see more of a downfall.
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